Mr. Juan Giron reports

CANSTAR ANNOUNCES WARRANT EXERCISE INCENTIVE PROGRAM

Canstar Resources Inc. has started a warrant exercise incentive program relating to 10,357,369 outstanding common share purchase warrants. The eligible warrants were issued in connection with a private placement that closed on Jan. 23, 2024, and are exercisable to acquire one common share of the company at a price of five cents per share until Jan. 23, 2026.

The incentive program is designed to encourage the early exercise of the eligible warrants during a 30-day period commencing on Aug. 26, 2025, and expiring at 4 p.m. PDT on Sept. 25, 2025.

Under the terms of the incentive program, each holder who exercises an eligible warrant during the incentive period will receive, for each eligible warrant exercised, one additional common share purchase warrant. Each incentive warrant will entitle the holder to acquire one additional common share of the company at an exercise price of seven cents per share for a period of 12 months from the date of issuance.

In the event that the closing price of the company's common shares on the TSX Venture Exchange equals or exceeds 10 cents for 10 consecutive trading days, the company will be entitled to accelerate the expiry of the incentive warrants. If the company elects to do so, it will issue a press release announcing the acceleration event, and the incentive warrants will thereafter expire 30 calendar days from the date of such notice.

All incentive warrants will be issued to participating holders promptly following the expiry of the incentive period.

The incentive warrants, and any common shares issued upon exercise thereof, will be subject to a statutory hold period of four months and one day from the date of issuance of the incentive warrants in accordance with applicable Canadian securities laws.

Eligible warrants that remain unexercised after the incentive period will continue to be exercisable on their original terms until Jan. 23, 2026. However, no incentive warrants will be issued in respect of any eligible warrants exercised after Sept. 25, 2025.

The incentive program is subject to certain conditions, including the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.

About Canstar Resources Inc.

Canstar is an exploration company focused on critical minerals and gold. The company's 100-per-cent-owned Golden Baie project (489.5 square kilometres) hosts high-grade gold and antimony showings along a major mineralized structure that also hosts a large number of gold deposits. The Buchans and Mary March projects (120.5 square kilometres) are located within the past-producing volcanogenic massive sulphide zinc-, copper- and silver-rich Buchans mining camp, and boast high-grade zinc and copper discoveries.

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